--- title: "Airshare Signs LOI to Acquire Wheels Up Aircraft Management Business - SherpaReport" description: "The deal is expected to close in the third quarter of 2023. It will add up to 150 aircraft to the managed fleet at Airshare." url: "https://www.sherpareport.com/aircraft/airshare-wheels-up-aircraft-management.html" date: "2026-10-24T19:43:40+00:00" language: "en-GB" --- [ ![Sherpa Report](https://www.sherpareport.com/images/sherpa-report-logo-white.svg) ](https://www.sherpareport.com/) #### Member login Remember Me - [ Forgot your username?](https://www.sherpareport.com/lost-user-name.html) - [ Forgot your password?](https://www.sherpareport.com/lost-password.html) GO [ ](# "Menu") # Airshare Signs LOI to Acquire Wheels Up Aircraft Management Business Nick Copley 10 August 2023 Last Updated: 10 August 2023 Airshare has signed a Letter of Intent (LOI) to purchase Wheels Up's aircraft management business. The deal is expected to close in the third quarter of 2023, subject to customary approvals and closing conditions. **Airshare Background & Expansion** Airshare was founded in 2000 and has grown to offer a full suite of private aviation solutions including fractional ownership, [jet cards](https://www.sherpareport.com/aircraft/jet-cards.html), aircraft management, charter services and third-party maintenance. It operates a fleet of Challenger super-midsize and Phenom light jets for their day based fractional jet and EMBARK jet card programs. It also manages a fleet about 30 different aircraft from King Air turboprops to large cabin Bombardier Globals and Gulfstreams, with some of these managed aircraft also available for charter. Kansas based Airshare has been extending its geographic footprint, including recent expansion into Chicago and South Florida, and its [addition of Challengers](https://www.sherpareport.com/aircraft/airshare-challenger-350.html) to the fractional fleet has seen it doing many more longer distance trips. With this potential acquisition, Airshare would have aircraft management customers nationwide, setting the stage for faster growth in aircraft management, fractional and charter programs and continuing the company's long-term expansion plans. "Our management team has worked diligently to establish a strong foundation for us to intelligently grow the company, and this potential acquisition is a direct result of those efforts," said John Owen, President and CEO of [Airshare](https://www.flyairshare.com/). "Aircraft management has become a core source of revenue for Airshare. Adding aircraft capacity and valuable owner relationships to our rapidly expanding managed fleet positions us very well for the future." Wheels Up Chairman of Operations Dave Holtz said the company is looking forward to working closely with Airshare through the process as a proven operator with a strong record of success in the aircraft management space. "Airshare has our same dedication to the customer and focus on extraordinary service, and we believe this will be a great destination for our managed fleet and team," Holtz said. "As we looked for a strong partner, Airshare's commitment to aircraft management and overall customer experience stood out." "One aspect that sets us apart from other private aviation companies is the access Airshare customers have to our complementary services," said Owen. "If interested, aircraft management customers can generate revenue by chartering their aircraft to our established base of fractional and charter customers. We also have many aircraft owners who own fractional shares or EMBARK jet cards to provide them with supplemental lift. We're excited for every aircraft owner to experience everything Airshare has to offer." **Wheels Up** Wheels Up has been looking to focus its operations of late, as it faces financial pressures. The two companies have not said how many aircraft will be part of this management transfer, but when it last talked about the managed fleet, Wheels Up had about 150 aircraft under management. Adding these to the Airshare managed fleet will significantly transform the company. ### Related Items #### [Wheels Up Q2 2026 Results & Fleet Transition](https://www.sherpareport.com/private-aviation-news/wheels-up-q2-2026-fleet-transition.html) #### [Wheels Up Q1 Results and New Financing](https://www.sherpareport.com/private-aviation-news/wheels-up-q1-results-and-financing.html) #### [From Marquis to Wheels Up to Real Jet: Kenny Dichter's Evolution in Private Aviation](https://www.sherpareport.com/private-aviation-news/marquis-wheels-up-real-jet-kenny-dichter.html) #### [Twenty-Five Years of Airshare: Building a National Aviation Platform](https://www.sherpareport.com/aircraft/25-years-airshare.html) #### [Wheels Up Launches Signature Membership](https://www.sherpareport.com/aircraft/wheels-up-signature-membership.html) #### [Airshare Overview](https://www.sherpareport.com/aviation-company-profile/airshare.html) #### [Wheels Up Sells 3 Non-Core Businesses](https://www.sherpareport.com/private-aviation-news/wheels-up-sells-3-businesses.html) #### [Wheels Up 1st Half Results 2025](https://www.sherpareport.com/private-aviation-news/wheels-up-results-2025.html) #### [Airshare Offers Bonus Days on Challenger 3500](https://www.sherpareport.com/aircraft/airshare-bonus-challenger-3500.html) #### [Wheels Up Fleet Modernization And $332 Million Financing](https://www.sherpareport.com/aircraft/wheels-up-fleet-modernization.html) #### [Airshare Expands Service Area Nationwide](https://www.sherpareport.com/aircraft/airshare-nationwide.html) #### [Private Equity Firm Buys Majority Stake in Airshare](https://www.sherpareport.com/aircraft/private-equity-airshare.html) ### SherpaReport monthly newsletter First Name Email Comments ### Latest News in Private Aviation ![](https://www.sherpareport.com/images/Magell-legacy-250.jpg) #### [ Magellan Adds Flexibility To Its Jet Cards ](https://www.sherpareport.com/aircraft/magellan-flexibility-cards.html) ![](https://www.sherpareport.com/images/stories/planes/Premier-Hawker800-250.jpg) #### [ Premier Private Jets at a Glance: Products, Fleet, and Infrastructure ](https://www.sherpareport.com/aircraft/premier-private-jets-overview.html) ![Mike Silvestro opening Farnborough FBO](https://www.sherpareport.com/images/stories/planes/Flex-Mike_Silvestro-Farn-250.jpg) #### [ Inside Flexjet’s New Farnborough Terminal and Red Label Academy Expansion ](https://www.sherpareport.com/aircraft/inside-flexjets-farnborough-terminal.html) ![](https://www.sherpareport.com/images/stories/planes/flyte-vision-N440MA-250.jpg) #### [ Flyte: A Focused Regional Vision Jet Operator ](https://www.sherpareport.com/aircraft/flyte-vision-jet-operator.html) ![](https://www.sherpareport.com/images/stories/planes/NetJets-P500-250.jpg) #### [ How Old Is the Private Jet You Are Flying On? ](https://www.sherpareport.com/aircraft/how-old-private-jet.html) ![](https://www.sherpareport.com/images/stories/planes/ClayLacy-Charter-250-2.jpg) #### [ Solairus Acquiring Clay Lacy Aircraft Management & Charter Divisions ](https://www.sherpareport.com/aircraft/solairus-acquire-clay-lacy.html) ### Aviation Company Profiles ![Aviation Company Profiles](https://www.sherpareport.com/images/company-profiles/CompanyProfile.png) Details on the leading private aviation companies, including aircraft management companies, fractional operators, charter operators and brokers. - [Find out more](https://www.sherpareport.com/aviation-company-profile/) ### SherpaReport Membership Get the latest, updated data and insights on the leading fractional jet programs, leading private jet card and membership programs, and the top-rated charter operators. 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